Retailers are concerned, but they're not panicky,

Flood damage does not tend to be as insured. The lack of insurance is likely to cause the recovery to be delayed,

I don't see any storm clouds on the economic horizon. We don't see any potential land mines or problem areas. Even an attack on the scale of 9/11 would not cause the economy to go into recession in the next two years.

There's just such an enormous demand from pension funds and insurance companies to match their assets with the liabilities of the boomer generation.

There is no operating manual that says what a neutral fed funds rate is, but the Fed knows that it's higher than 3 percent,

While core finished goods are still relatively tame, there are signs that price increases are accelerating further back in the production pipeline, ... Typically the Fed continues tightening until this series tops out. But with prices up only modestly, they will likely continue to make only modest adjustments.